Alan Franks Sells 85,000 Shares of Kelt Exploration (TSE:KEL) Stock

Kelt Exploration Ltd. (TSE:KEL) insider Alan Franks sold 85,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of C$10.17, for a total value of C$864,450.00. Following the completion of the transaction, the insider owned 19,158 shares in the company, valued at approximately C$194,836.86. This represents a 81.61% decrease in their position.

Kelt Exploration Price Performance

Shares of KEL opened at C$9.64 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.61 and a debt-to-equity ratio of 12.86. Kelt Exploration Ltd. has a 1 year low of C$5.96 and a 1 year high of C$10.40. The stock has a market cap of C$1.93 billion, a P/E ratio of 43.82 and a beta of -0.20. The stock’s 50-day moving average price is C$9.35 and its two-hundred day moving average price is C$8.52.

Kelt Exploration (TSE:KEL) last issued its earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share (EPS) for the quarter. Kelt Exploration had a return on equity of 3.96% and a net margin of 8.73%.The firm had revenue of C$132.64 million for the quarter. On average, equities analysts predict that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Kelt Exploration from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. TD Securities raised their target price on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Ventum Financial set a C$12.50 target price on Kelt Exploration and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, BMO Capital Markets raised their target price on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$11.10.

About Kelt Exploration

Kelt Exploration Ltd is an oil and gas company that focuses on the exploration, development, and production of crude oil and natural gas in Canada. Assets for production are acquired through the purchase of other corporate entities or through a full-cycle exploration program. Kelt traditionally focuses its exploration activities on areas with multizone hydrocarbon potential in Canada. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.